Hot Property for February

Town for sale

Sick of the overblown prices for houses you have to pay in Byron Shire? Maybe you need to look further afield – like central Queensland. How about a whole town with 16 houses, a school hall, three saw mills, streetlights and complete infrastructure. All of this is for around the same as a 3 bedroom, 2-bathroom unit in Byron Bay.

For $750,000 you could have called yourself the mayor of Ailies Creek. Sutton Nationwide listed the central Queensland town, 373 Km NW of Brisbane, just before Xmas and were expecting a quick sale.

Top end rural

You can contrast that with this 108-acre property in Binna Burra, which has been reduced from over $4m to $3,852,000. This luxury property includes productive macadamia trees and is zoned for a rural tourist facility. It has 8 bedrooms 7 baths and parking for 45 cars as it has been used as a wedding venue.

Or, why not build your own dream home? 10 acres of vacant land on the ocean view strip at Coopers Shoot (overlooking the golf course and Suffolk Park) has just been listed with Nick Dunn at McGrath. This is the last vacant acreage on this strip and is asking $5 – 5.5M. A similar block just up the road sold for $4.5M. Tom Misner, who built the SAE College on Ewingsdale Road, sold his luxury 5-acre property on this strip for $8M in 2014. That was a record at the time.

Christian Segiacomi from Byron Bay Property Sales has listed a magnificent home on possibly the best site in all of Byron Shire. 605 Goonengerry Road, Montecollum, just to the east of the Crystal Castle, is a majestic 16 acres with expansive 270-degree views. The spacious 5-bedroom house is a combination rammed earth and eco/passive solar design with a pool. Expressions of Interest.

Commercial

When residential gets too hot, some people look towards commercial as a better deal. Unfortunately, freehold or leasing in the Byron Industrial estate is almost as fraught as residential. Just for an overview:

– The Burringbar servo, shop and café with commercial kitchen and 3 bed 2 bath home is for sale at $630K

Businesses for sale

What are killing many of our local home grown businesses are the exorbitant rents. We wonder why we are being taken over by chain stores its because only big chains can afford to have a profile address here.

Home wares/gift shop

An example of this is Life of Byron. Long term resident originally from Brazil, Mita Malta, has been running the clothes and home wares retail shop at 2/17 Lawson Street for decades. Go in and and get some quality stuff or a valentines gift at its closing down sale before Feb 14. The shop is selling and a purchaser could not be found, as the rent could not make the numbers stack up. There was a day in Byron when shops were so sought after, key money of $100,000 plus would often change hands with a lease.

Retail clothing small boutique chain

A very special opportunity exists to purchase a small unique clothing chain that has established a niche shopfront and online presence. It has a $1.6M PA turnover, 4 shops in the Northern Rivers and the Gold Coast with loyal and dedicated staff. WIWO for $450,000. Please contact Michael here at BPS for more information.

Rice Restaurant in Brunswick Heads

Have not been to Rice in Brunswick for a while but always enjoy it when I do. The restaurant is for sale and lets hope the new owner can cook the red duck curry as well as Hendra.

Small developments:

Byron Shire Council will at some time be looking at the Rural Settlement Strategy in the years ahead. Don’t hold your breath, but for anyone in the position and the patience to look at some land banking for the future, there are some areas that I think will have potential for some much needed land release.

Newrybar

An example is this 2 acres in Newrybar. Going to auction on Sat 11th it is expected to get $1.2M – 1.3. The existing house is reasonable with a non-approved studio that needs work. Can be rural dual occupancy now allowing building a second dwelling. But the proximity to Newrybar township would suggest 3 or 4 subdivision

Lennox Head

Popular among small developers is finding a residential block big enough to split into a duplex block. One at Lennox head has just been listed and will go to auction and expected to get somewhere around $1.3-1.4M. New 3 bed 2 bath duplexes in this area (close to the beach) are getting around $1.5M each. Contact BPS if you want more info.

Mullumbimby

I will be interesting to see if we get our first million dollar plus sale on the eastern side (wrong side of the tracks) of Mullumbimby. Tara Torkkola from Byron Bay First National has listed 23 Ann Street looking for $995,000 – $1,085,000. The home is very nicely renovated and looks out on the southern aspect to green pastures. Prices in this area have been steadily appreciating over the last year with serious demand in Mullum. But still, a $1M sale will be interesting.

Chris Hanley – Citizen of the year

Local real estate principal Chris Hanley has been honoured as Byron Shire’s Citizen of the Year and recipient of the OAM. He has been recognised for his work with the 25-year success of the Byron Writers Festival as well as other community work.

All of this is fair and appropriate but as we both work in the real estate industry, I have dealt with Chris for well over 30 years. His other unrecognised attribute is his dedication and skill in business management, coaching and mentoring. First National Real Estate in Byron has an excellent business culture and is always a pleasure dealing with. I credit that to Chris and the other principals.

Elysium, Byron Bay

The project to completely redo Lawson Lane in the centre of Byron is only 4 weeks away from the launch. The Creative Road team has been tasked to reinvent Lawson Lane with murals and lights and activity – a la Melbourne’s thriving back lanes. This is the first in an ongoing project to revitalise Byron’s lanes. They have raised $80K but are still short the final $20K. If you can support this great project, Google it find its FB page or contact Rebecca on 0404 087 443